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Acerus Files a New Drug Submission for GYNOFLOR™ in Canada

Acerus Pharmaceuticals Corporation (TSX:ASP) today announced that it has
filed a New Drug Submission (NDS) for GYNOFLOR™ with Health Canada.
GYNOFLOR™ is an ultra-low dose estrogen (estriol) and probiotic (Lactobacillus
acidophilus) combination vaginal tablet used for the treatment of
symptoms of vaginal atrophy, for the restoration of vaginal flora
following the use of anti-infectives and for the treatment of certain
vaginal infections. In the NDS filed today, Acerus is seeking approval
from Health Canada for similar indications.

"The filing of this NDS further demonstrates our commitment to expanding
our women's health portfolio and to providing innovative treatment
options to Canadian," said Tom Rossi, President and Chief Executive
Officer of Acerus. "GYNOFLOR™ is a highly-differentiated product which,
if approved, has the potential to help the many women who suffer from
vaginal atrophy and certain vaginal infections, and contribute
significant revenues to our Canadian business. We look forward to
working with Health Canada and bringing GYNOFLOR™ to the Canadian
market."

About GYNOFLOR™

GYNOFLOR™ is an ultra-low dose estrogen (estriol) and probiotic (Lactobacillus
acidophilus) combination vaginal tablet used for the treatment of
symptoms of vaginal atrophy due to estrogen deficiency during menopause
and post-menopause, for the restoration of vaginal flora following the
use of anti-infectives and for the treatment of certain vaginal
infections. GYNOFLOR™ is approved in 41 countries across Europe,
Asia-Pacific, the Middle East, Africa and South America, and it is
estimated that up to 32.7 million women worldwide have been treated with
the product to date.

About Acerus

Acerus Pharmaceuticals Corporation is a Canadian pharmaceutical company
focused on the development, manufacture, marketing and distribution of
innovative, branded products that improve the patient experience.
Acerus' shares trade on TSX under the symbol ASP. For more information,
visit www.aceruspharma.com
and follow us on Twitter
and LinkedIn.

Notice Regarding Forward-Looking Statements

Information in this press release that is not current or historical
factual information may constitute forward looking information within
the meaning of securities laws. Implicit in this information are
assumptions regarding our future operational results. These assumptions,
although considered reasonable by the company at the time of
preparation, may prove to be incorrect. Readers are cautioned that
actual performance of the company is subject to a number of risks and
uncertainties, including with respect to the ability of Acerus to obtain
regulatory approval for GYNOFLOR™, and could differ materially from what
is currently expected as set out above. For more exhaustive information
on these risks and uncertainties you should refer to our annual
information form dated March 1, 2016 which is available at www.sedar.com.
Forward-looking information contained in this press release is based on
our current estimates, expectations and projections, which we believe
are reasonable as of the current date. You should not place undue
importance on forward-looking information and should not rely upon this
information as of any other date. While we may elect to, we are under no
obligation and do not undertake to update this information at any
particular time, whether as a result of new information, future events
or otherwise, except as required by applicable securities law.